UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 80,990 Shares of Trex Company, Inc. (NYSE:TREX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Trex Company, Inc. (NYSE:TREX) by 18.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 362,141 shares of the construction company’s stock after selling 80,990 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Trex were worth $24,111,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Harrington Investments INC lifted its stake in shares of Trex by 1.4% during the second quarter. Harrington Investments INC now owns 9,807 shares of the construction company’s stock valued at $727,000 after acquiring an additional 140 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of Trex by 2.6% during the second quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company’s stock valued at $523,000 after acquiring an additional 176 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock valued at $152,000 after acquiring an additional 184 shares during the period. Values First Advisors Inc. lifted its stake in shares of Trex by 3.6% during the second quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company’s stock valued at $497,000 after acquiring an additional 230 shares during the period. Finally, ABLE Financial Group LLC lifted its stake in shares of Trex by 3.6% during the second quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company’s stock valued at $519,000 after acquiring an additional 240 shares during the period. 95.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TREX has been the topic of several research reports. DA Davidson upped their price target on Trex from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. BMO Capital Markets lifted their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Benchmark cut their target price on Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Barclays cut their price target on shares of Trex from $68.00 to $67.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.94.

Trex Stock Performance

Shares of Trex stock opened at $76.02 on Friday. The business’s 50 day simple moving average is $69.25 and its 200 day simple moving average is $72.56. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The firm has a market cap of $8.14 billion, a PE ratio of 34.71, a P/E/G ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The business had revenue of $233.72 million for the quarter, compared to analyst estimates of $225.42 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. Trex’s revenue was down 23.1% on a year-over-year basis. As a group, equities research analysts predict that Trex Company, Inc. will post 2.05 EPS for the current year.

About Trex

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.